The French start-up Bump has signed a multi-year financing alliance with DIF Capital Partners to roll out more charging stations for electric vehicles and double growth overall.
This is a $180 million equity and quasi-equity deal that will be progressively unlocked from 2022 to 2030. ZePlug has also announced a significant investment, but ZePlug is targeting a different market with partnerships with residential and office buildings.
Bump operates with a capital-intensive business model. The company has already created 300 charging stations and plans to ship another 2000 stations of cargo by the end of 2023.
Upload funds and manage the installation of new charging stations so there are no upfront costs for your partners. After that, the company takes care of maintenance and operation. It then takes a cut of kWh, which progressively covers the investment costs and generates some income for the company.
Just like solar panels, It may take 5, 10 or 15 years before a loading station be profitable. It is an infrastructure company, which means that it is a long-term business.
Bump have two types of customers. Is associated with retailers, shopping malls, hotels and various companies that own parking spaces to implement stations charging station for anyone looking for a charging station.
also works with logistics companies and other B2B customers who need to switch to Power Plants. They get their own charging points for their vehicles managed by Bump. Clients include StarService, TopChrono, Stuart, Europcar, Zity, Bolt and Marcel.
With the new funds, Bump it plans to implement 25,000 charging stations by 2030. The startup will also hire a hundred people.
